The purpose of this blog is to share investment knowledge and wisdom that I have gained from making some poor choices as a novice investor. My mistakes are mistakes you can avoid or at least minimize. As I grew in my abilities, I continued to learn from new mistakes or poor investment choices. I’ve tried some day-trading using a service but most of my success is the result of buying quality investments. My focus will always be on individual stocks or low-cost index funds or low-cost sector ETF’s. The reasons for this will become more obvious as time goes on.
I find it most interesting that many of the Old Testament Proverbs provide financial wisdom. One such passage is the source of the name of this blog. In the days of King David, and even before that, to have a large flock of sheep or a herd of goats and cattle was a sign of wealth. Wise men like Abraham and the King Shepherd David knew that it was important to know where their sheep were and protect them from known risks. Their sheep and other animals can be compared to investments you and I might make today.
I am indebted to many who have asked me questions about investing or who have asked me for help to untangle investment problems and mistakes they have made. Those questions and requests forced me to dig and learn some new things. I also appreciate the wisdom of the founder of Vanguard, John C. Bogle. His book, The Little Book of Common Sense Investing, is a real treasure. In addition, James B. Cloonan’s Investing at Level3, sharpened my understanding of the difference between volatility and risk. Much of what I have learned has been communicated in a Facebook Closed Group. That group is called “Investment Ideas from Wayne.” This blog will continue that effort and incorporate training with many of the posts.
I have also benefited greatly from using the Weiss Ratings service and AAII resources. AAII is the American Association of Individual Investors. Fidelity Investments also offers wonderful research and investing tools.
Know Your Flocks & Herds 